We bring you the weekly dose of important Indian startup news of the week.
Ecommerce major Flipkart invested around $257 Mn in its logistics subsidiary Ekart, during the period between October and November 2017, as shown in the filings with the Registrar. The investment was made in multiple tranches through Singapore-based group company Klick2Shop Logistics Services International Pte. Also, Flipkart CEO Kalyan Krishnamurthy is now focusing on increasing the monthly active consumers from the existing 10 Mn to take to 80 Mn in the coming years.
Important Indian Startup Stories Of The Week
PayU To Surrender PayUMoney Wallet License
The services of the PayUMoney wallet will be closed by January 31, 2018, and the users have been asked to push the remaining amounts back to their bank accounts. PayU will now be focusing on Citrus Pay wallet powered by PayU going ahead.
Aadhaar Data Get Breached Again, UIDAI Denies
Some unidentified groups were found selling the Aadhaar data of over one billion people at just $7.88 (INR 500). The link shared by these unidentified group on WhatsApp provided the login and password details to access all the necessary details of one billion Indians. After paying $4.73 more, the group even shared the entire Aadhaar software which one needs to print one’s Aadhaar details. However, later in the day, UIDAI clarified that there has not been any breach in the Aadhaar database and the personal data of citizens, including biometric information, is safe and secure.